Allspring Global Investments Holdings LLC Raises Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Allspring Global Investments Holdings LLC lifted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,476 shares of the financial services provider’s stock after buying an additional 2,286 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.06% of Four Corners Property Trust worth $1,429,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FCPT. Strs Ohio boosted its position in Four Corners Property Trust by 2.8% in the 3rd quarter. Strs Ohio now owns 18,300 shares of the financial services provider’s stock valued at $406,000 after buying an additional 500 shares during the last quarter. Arizona State Retirement System boosted its holdings in Four Corners Property Trust by 2.2% in the fourth quarter. Arizona State Retirement System now owns 25,318 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 539 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Four Corners Property Trust by 1.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,804 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 589 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Four Corners Property Trust by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 98,248 shares of the financial services provider’s stock worth $2,484,000 after purchasing an additional 700 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in shares of Four Corners Property Trust by 3.8% in the 3rd quarter. UniSuper Management Pty Ltd now owns 24,900 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 900 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FCPT shares. Raymond James dropped their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, January 8th. Wells Fargo & Company boosted their target price on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $23.29 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 21.56 and a beta of 1.00. Four Corners Property Trust, Inc. has a twelve month low of $20.51 and a twelve month high of $27.60. The business has a 50 day simple moving average of $23.83 and a 200-day simple moving average of $23.56.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.13). Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.78%. The business had revenue of $65.14 million for the quarter, compared to the consensus estimate of $65.23 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.64 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date was Wednesday, March 27th. Four Corners Property Trust’s payout ratio is 127.78%.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.